News Formal

DOJ: No reason for water companies to reject new deals

  • 📰 manilabulletin
  • ⏱ Reading Time:
  • 12 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 8%
  • Publisher: 51%

Business Business Headlines News

Business Business Latest News,Business Business Headlines

Justice Secretary Menardo I. Guevarra said on Wednesday (Jan. 8) that water concessionaires Manila Water Company, Inc. and Maynilad Water Services, Inc. have no reason to reject the new contracts the government is drafting to replace the onerous provisions in the old agreements.

Guevarra said the new contracts will not favor the government but will address the needs of the public, adding it may take six months to finalize the new contracts with the two firms.

“Thus, I see no good reason why the water concessionaires will play hardball and induce the government to take extraordinary measures, like taking over their operations or nationalizing the water distribution service.”

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 25. in BUSİNESS

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

New contracts will give water concessionaires chance to correct their mistakes – Go'Take it or leave it.' This was Senator Christopher Go's unsolicited advice to the Manila Water Company and Maynilad Water Services Inc. Tuesday after President Duterte reportedly threatened to nationalize water services should they refuse the government's terms under the new water concession contracts.
Source: manilabulletin - 🏆 25. / 51 Read more »